The United Kingdom has always led the demand for housing by foreigners, although in 2017 we have recorded its lowest level in the historical series. If in 2008 they accounted for about 40% of total real estate bought by foreigners, this year they barely exceed 14% and the trend is that their influence rate in the Spanish real estate market will decrease.
Among the factors that affect this decline in purchases by the British, are the Brexit and the devaluation of the euro against the pound.
Statistics on the sale of real estate by foreigners show a sustained increase on a quarterly basis. It is true that, as pointed out by the College of Registrars, there is a certain seasonality in the market resulting in the first quarter of the year is the one that reaches a lower weight.
However, the value recorded during the first three months of 2017 with the purchase of 14,866 homes, which represents 13.07% of the total, is the highest since 2013 and is expected to exceed 15,000 in the coming months. The consolidation of foreign demand is already a reality.
Although the Brexit is already influencing the decline in the sale of housing to English, other nationalities such as the French and the Germans are growing in this area and compensating for the British fall.
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